ICAP Attended The 2016 AARO Spring Conference

On behalf of ICAP, Ken Mrozek, MAI, SRA attended the Appraiser Qualifications Board (AQB) Public Meeting and Association of Regulatory Officials (AARO) 2016 Spring Conference. This year’s spring conference was held April 8-10 at the Hyatt Regency Downtown in Phoenix, Arizona. It was attended by representatives from the TAF, ASC, AQB, APB, ASB, ,OCC, several AMCs, AI, ASFMRA, NAIFA, State Coalitions (including Illinois, Ohio, Arizona) as well as many state regulator departments.

Topics of discussion at the conference included:

Updates from TAF, ASC, AQB, APB and ASB

Definitions and Differences Between Appraisals and Evaluations

Background Checks – Update

Safety Tips for Those Dealing with Complaints

ASC Oversight and AMC Final Rules

Customary and Reasonable Fee Survey

AMC Appraiser Panel – The Inside Story of Appraiser Selection and More

Alternative Valuation Standards

AMC Legislation Discussion

Additionally, time was allocated to various Break Out Sessions, meetings included: AMCs & Professional Organizations, Board Members, Investigators, Administrators and Attorneys, and Industry Representatives. The following is a summary of the discussions as presented by the various presenters and discussion panels.

The AQB held a public meeting prior to the start of the AARO Conference from 9:00 am to 12:00 pm (agenda). Reports were given from the various The Appraisal Foundation (TAF) boards, including TAF, ASB, APB, and ASC. The reports were shorter versions of the reports and discussions given during the AARO Conferences. And so, most information covered in this meeting is addressed later in this report. Information covered in the AQB Public Meeting which was not covered in AARO Conference Notes, includes:

Tim Doyle, Senior VP, Conference of State Bank Supervisors discussed the NMLS System, slide set (click here). It is available to State Regulators as a method to track their Appraiser licensees. It tracks pertinent data, including licenses, education, and discipline. It is also compliant with 2017 background check requirement. Their systems are an approved channel for the FBI national database, required for proper background checks. Submitted background checks are received back in 2 to 12 hours.

Q&A with Sandra J. Tropper, FASA, Instructor of “PG204-Personal Property Valuation-The Legal and Regulatory Environment“ The American Society of Appraisers (ASA) is hosting the course: “PG204-Personal Property Valuation-The Legal and Regulatory Environment” at the Massachusetts College of Art and Design (MassArt) in Boston on May 2-5, 2019. This course […]

Q&A with Susan Golashovsky, FASA, instructor of Upcoming Webinar: “Connoisseurs Have Information I Need (and What I Found Out By Asking)” The American Society of Appraisers (ASA) is hosting an online webinar on Feb. 7, 2019, entitled: PP141-WEB – Connoisseurs Have Information I Need (and What I Found Out By Asking). The webinar provides a variety […] […]

Q&A with Branko Deljanin, Gemologist & Instructor Advances in technology have led to the development of synthetically grown diamonds which are virtually indistinguishable from naturally grown diamonds—posing challenges to appraisers. The American Society of Appraisers (ASA) is offering an online webinar/practical workshop on March 28, 2019 to help je […]

All Appraisers Aboard! Marine professionals–both commercial and yacht–and non-marine professionals interested in the marine appraisal profession may want to come aboard the legendary Queen Mary to attend the American Society of Appraisers (ASA) Marine Survey course on March 21-23, 2019. Permanently docked in Long Beach, CA, the RMS Queen Mary is a retired Br […]

The American Society of Appraisers recently held its annual International Appraisers Conference on October 7-10, 2018 in Anaheim, California at the Hilton Anaheim. In keeping the tradition of providing the highest-level of education for appraisal experts, this year’s IAC featured more than 40 sessions of the most comprehensive educational programming availab […]

TweetThe American Society of Appraisers recently held its annual Advanced Business Valuation Conference on October 7-10, 2018 in Anaheim, California at the Hilton-Anaheim. This conference presented the most comprehensive Business Valuation educational programming available, taught by the world’s top Business Valuation professionals. This three-day event offe […]

TweetBy Sharon Reed BUCHAREST, Romania — Jeffrey S. Tarbell, ASA represented the American Society of Appraisers at an International Valuation Conference, entitled: “Business Valuation in a Globalised World” in Bucharest, Romania on September 7, 2018. Hosted by the International Valuation Standards Council (IVSC) and the National Association of Authorised Rom […]

We are pleased to announce the results of ASA’s Rising Stars Award Winners. This award honors the brightest young valuation professionals who have demonstrated success throughout the fiscal year. These six stars were selected by the Rising Stars Committee from over 30 entries nominated by fellow valuation professionals. These individuals will receive free re […]

The Appraisal Institute announced March 25 that it attended several high-profile events throughout the month, which helped the organization enhance its role as the valuation profession’s thought leader.

The Appraisal Institute California Government Relations Committee announced March 24 a legislative campaign to amend the state’s appraisal license law to allow state-licensed appraisers to use valuation standards other than the Uniform Standards of Professional Appraisal Practice when performing appraisals for any purpose other than for federally related tra […]

Delinquency rates for commercial mortgage-backed securities fell for the fourth consecutive month in February to 5.58 percent, analytics firm Trepp reported March 19. Experts said that the declining number of delinquencies and a healthy dose of new issuances indicate a strong year for CMBS.

Foreclosures decreased by 4 percent between January and February, marking the lowest level of foreclosures since August 2006, analytics firm RealtyTrac reported March 19. The report noted the decrease is a sign that the housing market is on track to return to historic norms.

Average fixed mortgage rates moved down during the past week, with the average 30-year fixed mortgage rate continuing to hover below 4 percent, Freddie Mac reported March 19 in its weekly Primary Mortgage Market Survey.

Mortgage lenders are optimistic about the housing market, saying they expect increased mortgage demand and larger profits over the next three months, Fannie Mae reported March 18 in its Mortgage Lender Sentiment Survey. The survey also noted that credit tightening has gradually eased up over the last few months.

Some California farmers are finding that their water has greater value than their land, and so instead of planting crops they are selling their water rights — for as much as $700 per acre foot — to Southern California communities, CBS San Francisco reported March 17.

A bipartisan group of senators, including members of the Senate Banking committee, are fighting against the federal government’s use of Fannie Mae and Freddie Mac’s guarantee fees to cover federal spending, HousingWire reported March 17. The senators said the practice is a “back-door tax” on homeowners.

The Federal Reserve, citing its confidence in the U.S. economy, set the stage March 18 for its first rate hike since 2006 — at the same time it slightly downgraded its economic outlook, USA Today reported. The Fed said growth “had moderated somewhat” due to several factors, including a sluggish housing market.

Fannie Mae and Freddie Mac may need another taxpayer bailout due to increased risks caused by shrinking reserves, according to a report from the Federal Housing Finance Agency Office of Inspector General, Reuters reported March 18. The government-sponsored enterprises received a $187 billion taxpayer bailout in 2008.

Staff

Illinois Coalition of Appraisal Professionals

ICAP is one of the nation’s oldest and largest coalition of professional appraisers, established in 1994 to be a unified voice for Real Estate Appraisers in the State of Illinois.